Five-Bedroom Villa with panoramic Bay of Kotor views in Krasici, Lustica
€1,300,000
Peter Flynn
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In Brief
A newly completed four-bedroom villa on the Lustica Peninsula, set above the village of Krasici with unobstructed panoramic views across the Bay of Kotor. At 328m² across two floors, the villa is built and finished to a standard that is uncommon at this price point - premium sanitaryware and bathroom finishes throughout, underfloor heating, a fully equipped island kitchen, and high-quality bathrooms that hold their own against properties costing considerably more. The private pool sits at terrace level with the bay as its backdrop. A self-contained ground-floor suite with its own kitchen, bathroom, and two bedrooms operates independently from the main living floors. Garage included. Porto Montenegro is twenty minutes by car; the Gary Player-designed golf course at Lustica Bay is ten minutes away.
Description
Krasici sits on the southern flank of the Lustica Peninsula, where the coastline turns and the bay opens up fully towards Herceg Novi and the mountain wall beyond. The view from this villa - panoramic, unobstructed, dropping directly to the water - is the kind that does not date and does not get built out. The architecture earns it: the building steps down the hillside in two distinct volumes, white render above, natural travertine-effect stone cladding at terrace level, floor-to-ceiling glazing oriented precisely towards the water on every principal elevation.
The ground floor is organised around two distinct programmes. At the front, a 75m² open-plan living room and kitchen occupies the full bay-facing width of the building, its glazed wall dissolving the boundary between interior and the view beyond. The kitchen is a serious piece of work: handleless grey cabinetry paired with oak-effect panels, Bosch ovens set into a tall tower unit, an angled black extractor over the cooking wall, and a freestanding island with a white stone top and a contrasting timber section - functional, well-proportioned, and more resolved than most villa kitchens in this category. At the rear of the same floor, a self-contained suite - two private bedrooms, a personal kitchen, a bathroom, and a separate corridor - operates independently, suited equally to a caretaker arrangement, extended family, or as a rentable annexe. A laundry room, additional bathroom, and boiler room complete the ground floor.
The staircase - herringbone-tiled treads, glass balustrade with a brushed steel rail - leads to a first floor given over entirely to the sleeping accommodation. Three bedrooms, each with its own bathroom and walk-in wardrobe, are arranged along the bay-facing elevation. The corner bedroom takes the widest view: a full-width glazed corner unit opens to both the pool terrace and the bay beyond, the water sitting directly in the sightline at mattress level when lying in bed. The two remaining bedrooms carry the same configuration - large picture windows framing the same panorama, oak-strip flooring, ceiling-cassette air conditioning. The bathrooms are consistently executed throughout: large-format wall tiles, walk-in showers with overhead rain heads and glass screens, double vanity units with premium solid-surface tops and timber-fronted cabinetry, full-width mirrors. One bathroom adds a full-length soaking bath set against the tiled wall. Premium sanitaryware and high-quality bathroom finishes are used throughout without exception. A pantry room and a 34m² veranda complete the upper floor, the latter providing an outdoor room with the same bay panorama that runs through the whole building.
The pool terrace is the pivot between the two floors. The pool itself - 3.5m by 6.2m, tiled in blue mosaic - sits at the edge of the terrace with a glass-panel balustrade beyond and the full width of the bay in front of it. Mediterranean planting - lavender, rosemary, clipped myrtle, succulents - has been established in the surrounding gravel beds, providing enclosure without blocking the view. Stone-terraced retaining walls rising from the road below are the same natural material used on the building's lower facade, giving the whole site a coherent material language from street level to pool deck.
The villa is sold as seen, fully finished and ready for occupation. The construction quality - underfloor heating throughout both floors, premium sanitaryware and bathroom finishes, double-glazed aluminium-frame windows, Bosch appliances - is verifiable on inspection rather than simply claimed. A private garage and off-street parking are included. The village waterfront is a short walk; the wider peninsula's beaches, golf course, and marina are a short drive.
What Sets It Apart
Most new-build villas on the Lustica Peninsula offer either the view or the finish - this one delivers both, with a floor plan that adds genuine flexibility through its self-contained ground-floor suite. The panorama is among the widest on the eastern shore of the bay: the full sweep from Herceg Novi to Tivat is visible from the pool, the veranda, and every bedroom on the upper floor. The construction specification - underfloor heating, Bosch appliances, premium sanitaryware and bathroom finishes throughout - is consistent rather than applied selectively to the rooms that photograph well. At 328m² on a 680m² plot with a pool, a garage, and that view, the price sits at the rational end of the market for what is here.
Buyer Lens
Well suited to a buyer seeking a permanent residence or substantial seasonal base with the option to use the ground-floor suite for family, staff, or supplementary rental income. Equally viable as a pure investment holding given the villa's specification, pool, and position. Less suited to a buyer requiring urban walkability year-round - a car is necessary for most errands, though the village waterfront and its cafés and bars are on foot.
Local Amenities
Krasici is a small coastal village on the southern flank of the Lustica Peninsula - quiet, low-rise, and oriented to the water, with a concrete and gravel shore, a handful of waterfront bars and restaurants, and the kind of unhurried pace that draws buyers specifically to this side of the bay. The village covers the basics on foot; the peninsula's wider offer - beaches, marina, golf - is a short drive.
On foot (approx. 5-10 min):
- Plaza Krasici - the village shore, directly on the bay; rocky and concrete entry, four waterfront bars including Zanzibar, Paradiso, Princ and Poseidon
- Village café-bars and waterfront restaurants along the seafront promenade
By car:
- Tivat Airport (TIV) - 13km / 15-20 min
- Tivat and Porto Montenegro - 15km / 20-25 min
- Kotor Old Town - 14km / 20 min
- Lustica Bay resort and marina - 8km / 10-12 min
- The Peaks Golf Course at Lu?tica Bay (Gary Player-designed, Montenegro's first 18-hole championship course) - 8km / 10-12 min
- Plavi Horizonti beach (sandy, family-friendly) - 10km / 12-15 min
- Zanjice beach (pebble, crystal-clear water) - 14km / 20 min
- Herceg Novi - approx. 43-45km / approx. 1 hour via Kamenari-Lepetane ferry (ferry crossing included)
- Podgorica Airport (TGD) - approx. 110km / approximately 2 hours
- Dubrovnik Airport (DBV) - approx. 100km / 2h+ (border crossing dependent)
Public transport:
- Blue Line bus to Tivat - runs up to 5 times daily (Mon-Sat), journey approx. 30 min
Agent's Honest Take
The Lustica Peninsula attracts buyers who have usually already looked at Kotor, looked at Tivat, and decided they want the bay without the density of either. Krasici delivers that - the view is panoramic and permanent, the village is functional without being crowded, and the airport at Tivat is fifteen minutes by car. The arrival of the Gary Player golf course at Lustica Bay adds a further dimension to the peninsula's appeal that was not there even two years ago. This villa is a rare combination of genuine construction quality, a flexible floor plan, and a position that justifies the asking price without requiring persuasion. For a buyer who wants a finished, move-in-ready property with a pool and an unobstructed sea view, it warrants serious attention.
NT Realty is a boutique real estate agency based in Tivat, Montenegro. Founded by Peter Flynn, who first came to the Bay of Kotor in 2005 as a property investor and has since built businesses across real estate development, architecture, and interior design, the agency is run alongside Maša Flynn — architect and former Head of Design at Porto Montenegro, where she delivered over €60 million of projects on time and on budget. Between them they bring a depth of local market knowledge that is difficult to find elsewhere in the region.
The team specialises in properties for sale and long-term rentals across the Bay of Kotor, Tivat Bay, and the Luštica Peninsula — from Porto Montenegro and Luštica Bay to private homes throughout the wider region. Our job is to guide buyers, sellers, and tenants through the process clearly, honestly, and without unnecessary complexity.
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Frequently Asked Questions
After purchase and registration, you'll receive keys and take possession. Next steps include transferring utilities to your name, setting up building management payments if it's an apartment, getting home insurance, and—if you're renting it out—registering for tourist tax and obtaining any required permits. Your lawyer or agent can guide you through the administrative bits.
Rental income is taxed at 15% on gross receipts if you're renting short-term (tourist rentals), or you can opt for taxation on net income after expenses for long-term rentals. You'll also pay municipal tourist tax (€1 per night per guest in high season, €0.50 in low season) and need to register your rental with the tax authorities and tourism directorate.
Annual property tax is quite low—just 0.25% of the property's assessed value per year. The assessed value is typically well below market value, so you might pay €200-500 annually on a coastal apartment worth €200,000. It's collected by your local municipality and is one of Montenegro's more affordable ongoing costs.
Notary fees are set by official tariff and scale with your purchase price. For most residential properties, expect €350-€1,000 plus 21% VAT—so roughly €423-€1,210 total. A €250,000 property runs about €532 in base fees. There are also small charges for document copies and administrative filing, so your final notary bill might be slightly higher.
For resale properties, you'll pay 3% Real Estate Transfer Tax (RETT) on the purchase price. New builds from developers are zero-rated for RETT but include 21% VAT in the price—though developers can usually reclaim this VAT. Either way, budget around 3% of the purchase price for transfer taxes unless it's a new build where VAT is already included.
The notary doesn't receive or hold the money directly. Instead, the seller must confirm in writing to the notary that they've received the full purchase price. Only after the notary receives this written confirmation (and verifies tax obligations are met) will they issue the Clausula Intabulandi. Some transactions use bank confirmations for added security.
Yes, if you're married or in a registered partnership, you typically need your spouse's or partner's written consent to sell property in Montenegro, even if the property is registered solely in your name. This protects both parties' interests under matrimonial property rules. Your notary will confirm the specific requirements for your situation.
The Clausula Intabulandi is the notary's official confirmation that all legal and financial obligations have been met, allowing the property to be registered in your name. The notary issues it only after verifying you've paid the full price and all taxes. It's your green light for cadastre registration—without it, you can't become the legal owner.
Every property and owner has specific numbers that appear on contracts: your JMBG (personal ID), the seller's JMBG or company registration, and the property's cadastral parcel number (katastarska parcela/čestica). These link everything in the official registries and are essential for registration and tax purposes.
No, Montenegro doesn't have a title insurance system like the US or UK. Instead, buyers rely on comprehensive legal due diligence—your lawyer or notary checks the cadastre, ownership history, encumbrances, and permits before you commit. It's a different system, but with proper checks it's just as secure.
It depends on where your documents were issued. If you're from a Hague Convention country (which includes most Western countries), you need an apostille. If not, your documents need consular legalisation. Either way, they'll also need certified translation by a sworn court translator in Montenegro.
Your lawyer requests an official extract (List nepokretnosti) from the Real Estate Cadastre, which shows current ownership, any mortgages or liens, property boundaries, and legal description. The notary also verifies the seller's identity and legal capacity. This due diligence typically takes a few days and costs around €18-25 for the cadastre extract.
You obtain a JMBG through the local Police Directorate (MUP) by presenting your passport, proof of property ownership, and completing a simple application. The process typically takes a few days, and you'll need this number for tax declarations and property registration—even without residency.
For a straightforward resale apartment with clean paperwork, the buying process can often be completed within 3-6 weeks. More complex transactions, new builds, or mortgage-financed purchases can take longer.
Some banks do lend to foreigners, but conditions are tighter—lower loan-to-value ratios and stricter income requirements. Many foreign buyers finance through their home country or pay cash.
Officially, everything is in euros. You can convert from your home currency before sending, or in some cases settle using cryptocurrency if both parties and the notary agree—but the contract price and taxes are always euro-based.
Beyond the purchase price and transfer tax, budget for notary fees, translation, legal fees, and potentially agency commission—together, these typically add 2-4% to your total cost.
No. Most foreign buyers use a Power of Attorney to authorize someone here—your lawyer, NT Realty, or another trusted representative—to sign on your behalf.
By convention, the buyer usually pays both the notary fees and the sworn court translator fees, though this can be negotiated between parties.
Yes, and it's more straightforward than most people expect. Montenegro welcomes foreign buyers—both EU and non-EU—and you can own property in your own name without needing residency or a local company in most cases.
Disclaimer: Purchase Costs & Information Accuracy
All costs associated with the purchase, including notary fees, real estate transfer tax (if applicable), and any legal fees, are the sole responsibility of the buyer. ntRealty bears no responsibility for the correctness of the information published here, which is based exclusively upon details provided to us by the property owner(s). ntRealty has no obligation to update, modify, or amend this listing or to notify a reader if any information, including urbanistic or cadastral data, subsequently becomes inaccurate. All listings are subject to prior sale. Agency Commission: No agency commission is charged to the buyer. The agency fee is paid by the seller.
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